Solo Brands Acquires TerraFlame
11 Mai 2023 - 3:00PM
Business Wire
Acquisition will enable Solo Brands to bring
the fire burning experience indoors
Solo Brands, Inc. (NYSE: DTC), ("Solo Brands" or the "Company"),
a direct-to-consumer (DTC) platform for rapidly growing lifestyle
brands including Solo Stove, Chubbies, Oru Kayak, and ISLE, today
announced it has acquired TerraFlame, a company founded with the
mission of creating warm, inviting and ambient spaces around clean
burning flame.
“We are pleased to welcome TerraFlame to the Solo Brands family
and thankful to Gerald Berger, Oleg Berger and Lenny Vainberg for
choosing us as the right long-term partner for them,” said John
Merris, CEO of Solo Brands. “This strategic acquisition complements
our brands, and, alongside Solo Stove, allows us to offer our
customers the fire burning experience outdoors, and with the
addition of TerraFlame, we’re thrilled to bring the fire inside. We
hope to leverage our direct-to-consumer and wholesale expertise to
support TerraFlame’s growth while also leaning into TerraFlame’s
shared passion for product innovation and incredible products to
elevate the Solo Brands customer experience.”
The announcement comes on the heels of Solo Brands’ continued
business momentum, driven by product innovation, focus on the
customer experience, wholesale and retail penetration, and
international expansion. The Company launched 15 new products in
2022, including the Solo Stove Mesa table top fire pit and Pi pizza
oven. On the wholesale front, Solo Brands now offers its products
through key strategic retail partners including Costco, Dick’s
Sporting Goods, Ace, Academy, Scheel’s, and others.
TerraFlame creates warm and inviting places where customers can
roast s’mores and gather with friends and loved ones. It combines
eco-friendly and sustainable fireplace fuels with artisan crafted
fire features that showcase flame in its truest form. The company
sells a range of indoor fire products, including its S’mores By
TerraFlame® portable tabletop s’mores roaster designed to be used
indoors, while still providing the sound of campfire memories. In
addition to its e-commerce platform, TerraFlame has a robust retail
network including Target, Pottery Barn, William-Sonoma, and Crate
& Barrel.
TerraFlame’s team, including its CEO Lenny Vainberg who will be
appointed the role of TerraFlame General Manager, will become part
of the Solo Brands team.
“We are thrilled to join the Solo Brands team and to have found
a partner that supports our vision for TerraFlame,” said
Vainberg.
About Solo Brands, Inc.
Headquartered in Grapevine, TX, Solo Brands is a platform for
the next generation of digitally-connected, direct-to-consumer
(DTC) brands that develops and produces lifestyle products to help
customers create good moments and lasting memories. Each brand in
the Solo Brands portfolio has access to best-in-class fulfillment
and operations, digital and technical expertise, and customer
service to drive the best customer experience on the internet while
giving back to the communities that each brand serves. Current
lifestyle brands in the Solo Brands portfolio include Solo Stove,
Chubbies, Oru Kayak, and ISLE.
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version on businesswire.com: https://www.businesswire.com/news/home/20230511005195/en/
Investors Bruce Williams Investors@solobrands.com
Media Judy Lee SoloBrandsPR@icrinc.com Source: Solo Brands,
Inc.
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